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Winter is here and the end of financial year is just around the corner. In this June newsletter, we kick off with a look at franking credits, including a case study of how franking credits are treated within an SMSF.

We also look at the Superannuation Guarantee Amnesty legislation introduced by the government as well as how the ATO is scrutinising car claims this tax time.

If you have any questions about any of the articles in our latest newsletter please contact this office on 02 6260 4994 or


The Gillespie Team

How do franking credits work?

A franking credit is a tax credit allocated to the shareholder. The tax credit can offset the tax that is due on the dividend. 


Superannuation guarantee amnesty introduced

The Government has introduced legislation to complement the superannuation guarantee ('SG') integrity package already before Parliament by introducing a one‑off, twelve month amnesty for historical underpayment of SG.


ATO scrutinising car claims this tax time

The ATO has announced that it will be closely examining claims for work-related car expenses this tax time as part of a broader focus on work related expenses.